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Read this, Gittins

A glimpse inside northen Italy hospitals: Jason Van Schoor @jasonvanschoor Registrar in Anaesthesia & ICM | NIHR UCL Academic Clinical Fellow From a well respected friend and intensivist/A&E consultant who is currently in northern Italy: 1/ ‘I feel the pressure to give you a quick personal update about what is happening in Italy, and also give some


Abandoning mandatory superannuation the “best possible stimulus”

The Australian Adam Creighton has tweeted suggesting that freezing compulsory superannuation contributions would provide the economy with the “best possible stimulus”: The best possible stimulus would be suspension of mandatory superannuation contributions, supercharging take-home pay by around 10 per cent and avoiding the waste that accompanies government spending.#auspol — Adam Creighton (@Adam_Creighton) March 9, 2020


Scotty from Marketing rebrands strategic oil reserve

This is genuinely brain dead stuff, at Domain: The Morrison government has struck a landmark deal to tap into the US government’s tightly-guarded emergency fuel reserves, a move that will help lower the risk of Australia plunging into an economic and national security crisis. The agreement, to be signed by Energy Minister Angus Taylor in


Australian dollar crashes

For no apparent reason beyond the obvious, the AUD just got liquidated nearly 2%: Aaaaand, Australian dollar uncrashes: Both fat-finger and harbinger. ———————————————- David Llewellyn-Smith is Chief Strategist at the MB Fund which is very conservatively positioned for coronavirus risks including a falling Australian dollar. 


IMF warns of renewed Aussie housing bubble

With Sydney’s and Melbourne’s dwelling values rebounding by a whopping 13.2% and 12.7% since bottoming mid last year: The International Monetary Fund (IMF) has released its latest Article IV report on Australia, which warns of a renewed property bubble in these two markets: After a prolonged downturn, housing markets in Australia have begun to recover.


Australia enters one hundred year shock

Amid the inane squawking of the Australian political economy pet shop there was one moment worth mentioning from the weekend. That gong goes to Gladys Berejiklian who inadervently described the unfolding calamity, at Domain: “There is no doubt that we are not anywhere near the worst of this,” she said. “We haven’t even hit the


Let’s arrest a vice-chancellor…

To stop this, at Domain: Virgin Australia has put plans in place to operate three charter flights for stranded Chinese students if the Australian government relaxes its coronavirus travel ban. …The University of Queensland, Queensland University of Technology, University of Sydney and Monash University said they had not chartered any student flights. A spokesman for


Nothing can save tourism

Via The Australian: Australia faces an “unpreced­ented” fall in international visitor arrivals from key countries as the coronavirus outbreak feeds a ­record number of holiday can­cellations and a 36 per cent fall in bookings since December. Tourism Australia data reveals COVID-19 has fuelled a wipe-out in international airline bookings from key tourism markets, including China,


Hooocoodanode? Chinese student ban dodger has virus

Via Domain: An international student living in Brisbane has become the seventh person to test positive for coronavirus in Queensland. The 20-year-old man from China is in a stable condition in isolation in the Royal Brisbane and Women’s Hospital. Brisbane Times understands the student has not attended any university classes and his room-mate is undergoing


Unions: Throw open borders to cheap, sick Chinese workers

With the coronavirus spreading like wildfire, and Australian wages hovering near record lows, the union movement has demanded the federal government open Australia’s borders to temporary Chinese migrant workers: Unions are calling on the federal government to lift the “discriminatory” Chinese travel ban, with some businesses struggling to cope without temporary workers who remain trapped


Why is New Zealand sick of Jacinda Ardern?

In the lead-up to the September 2017 New Zealand general election, Labour promised to reduce immigration by around a third by cutting the numbers of work and student visas: …in recent years our population has been growing rapidly as record numbers of migrants arrive here. This has happened without the Government planning for the impact immigration is


As Morrison unleashes virus, Australia prepares for shut down

Never waste a good crisis. The great Australian virus scab grab has begun with business. At the AFR: Peak business groups have demanded the government use the economic downturn being caused by the coronavirus outbreak to unveil a “significant ” investment incentive in the May budget. The groups elevated their demands for a business investment


Australia “most exposed” to virus shock

Yep, at the AFR: Australia’s economy stands on the front line of the worsening global coronavirus outbreak and faces recession if China doesn’t start to recover this month, says Donald Trump’s former top economics adviser. …He predicts the Chinese economy will contract 10 per cent in the first quarter, in annualised terms, pushing Australia’s economy


Morrison steps back from suicidal border opening…for a week

Via the AFR: Prime Minister Scott Morrison has moved to get ahead of the coronavirus outbreak being declared a global pandemic and has activated the government’s emergency response plan. The declaration triggered goverment preparations for a more severe virus outbreak and planning to shore up medical stockpiles, supply chains and health resources. The health crisis


Education Minister rules out university virus bail-out

Last week, Professor Salvatore Babones warned of the ‘moral hazard’ inflicting Australia’s universities, which would see them trying to socialise the cost of lower Chinese international student flows on Australian taxpayers: Chinese student enrolments in Australian higher education have increased six-fold in the past two decades. Chinese students almost always pay full fees and are


ABC TV: MB Fund vs Macquarie on coronavirus fallout

MB Fund Head of Investment, Damien Klassen, pwning Macquarie Private Wealth on ABC The Business last night: According to the silver donut, central banks can cure viruses… Damien Klassen is Head of Investments at the Macrobusiness Fund, which is powered by Nucleus Wealth. The information on this blog contains general information and does not take into


80% of Australians agree Chinese travel ban must remain

The softening up for the rollback of virus-related border protections rolls on, via AFR: The Morrison government will consider Thursday whether to start easing the travel ban on Chinese students amid warnings by health authorities that the crisis will run for several months more, prompting fears of a recession. …Ahead of Thursday’s meeting of the